Driving Force of Economy: Youth Employment and Remittances

“Remittances from the Bangladeshi wage earners abroad stood at $10.64 billion during the first 10 months of the current financial year (July 2011-April 2012), a 10.41 percent growth over $9.61 billion during the corresponding period of the last fiscal. Total remittances sent by the expatriate Bangladeshis until May 25 stood at $11.57 billion. Central bank governor Atiur Rahman has expressed hope that remittances by expatriate Bangladeshis in the current financial year may cross $13 billion – $1 billion more than the last fiscal. Source: Remittances may top $13 bn: central bank“

We read the forcast of governor of Bangladesh Bank, but what is our finance minister thinking! Have any plan to sustain the growth of remittances? We are informed by different media that he is going to present budget for 2012-13 fiscal year, worth around Tk.1.90 trillion. How much he will alocate for the expartriate Bangladeshies and unemployed youths seeking for employment within the country and abroad? We hardly observe the answers on this issues who are one of the major driven force of our economy.

Finance minister will expand the direct and indirect taxation areas for generating more national income in the next fiscal budget, we have seen this news and got some experts opinions on impacts as usual. But nor the minister nor experts have given importances on the remittances and strengths on unemployed youths who are seeking employment at abroad for increasing the national income.

Not only expanding tax net, there have alternative room to generate national income; we should remind our minister to focus on the alternative like overseas employment and remittances in this fiscal year 2012-13. Aleady the Youth and students from different universities have placed 10 points demands including Youth employment funds, a national employment policy and applicable laws, skill development training centers at each upazilla to the finance minister by organizing a human chain on 24 May 2012 and sending a memorandum to the ministry of finance.

The minister should take a bold steps by allocating necessary budget on these subjects to utilize the youth folks by generating local and overseas employment.